Galaxy’s ESG Approach
Galaxy is committed to responsible Environmental, Social, and Governance (“ESG”) practices as we build our global business and help shape a new economic paradigm.
2023
ESG Report
Our continued commitment to responsible environmental practices, robust governance, and fostering an inclusive and equitable environment for our employees and the communities we serve.
Past Reports
Our dedication to creating a sustainable business model is not just part of our corporate responsibility but is also essential for delivering long-term value to our shareholders.
Mike Novogratz
Founder and CEO
ESG Program
Galaxy is a young company in growth mode, operating at the forefront of the digital assets ecosystem. As a leader in the space, Galaxy is committed to developing this new frontier in a sustainable manner that prioritizes the issues that matter most to our business and stakeholders, while focusing on areas that have the greatest impact.
ESG Program
Key Tenets
001
Environmental
Managing and improving our environmental and carbon footprint by integrating sustainable practices and increasing the use of sustainable energy across our operations.
002
Social
Investing in our people by fostering a diverse, equitable, and inclusive culture and ensuring our employees are inspired by our mission.
003
Governance
Establishing strong corporate governance to maintain a culture of integrity, all while creating value for all our stakeholders.
ESG Program Oversight
Our Board of Directors is actively engaged in the oversight of Galaxy’s ESG program. Our Compensation, Corporate Governance and Nominating (CGN) Committee oversees Galaxy’s ESG framework, strategy, and objectives and, along with the broader Board, is informed on key ESG-program initiatives and updates through Board meetings and annual reports from the ESG Steering Committee. Our ESG Steering Committee is comprised of senior executives across business lines and regions and is charged with ensuring the effective implementation and oversight of the Company’s ESG strategy at the business level. Our ESG strategy is developed and executed by Galaxy’s Investor Relations team, who regularly meet to review and evolve the Company’s ESG strategy for the benefit of all our stakeholders.
Corporate governance documents and policies are publicly available on investor.galaxy.com.
ESG Materiality Assessment
On a biennial basis, Galaxy conducts an ESG materiality assessment to deepen our understanding of the ESG-related topics that matter most to our stakeholders. Our second materiality assessment was conducted in 2023 and included the steps as listed below. The results of the ESG materiality assessment help shape our ESG program strategy, prioritize our focus, and ensure that our reporting is aligned with addressing the ESG issues of greatest importance to our stakeholders.
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001
Identify
We reviewed ESG frameworks, standards, rating agencies, and our peers to better understand the current ESG landscape and focus areas of each of these groups.
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002
Categorize
We refined a list of potentially material ESG topics and categorized them as Environmental, Social, or Governance issues.
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003
Assess Impact
We researched each ESG topic in detail to understand its relevance to our business and our stakeholders.
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004
Gather Feedback
We engaged key stakeholders to collect feedback on what ESG topics they felt were most material to the long-term sustainability of our business. After gathering feedback, the results were plotted on a graph to create an ESG Materiality Matrix.
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005
Engage Management
The 2023 ESG Materiality Matrix was reviewed by Galaxy’s ESG Steering Committee, a group of senior executives across business lines and regions who are charged with ensuring the effective implementation and oversight of the Company’s ESG strategy at the business level. The Matrix was also reviewed by Galaxy’s Compensation, Corporate Governance and Nominating (CGN) Committee.
Environmental Sustainability
Download Mining & Energy Report
Galaxy remains committed to achieving its long-term goal of expanding its use of sustainable energy, which we believe will help drive down our marginal cost of production, while also indirectly helping decarbonize our Scope 2 greenhouse gas (GHG) emissions.
Galaxy targets an energy mix that utilizes a higher percentage of energy from renewable sources than the Electric Reliability Council of Texas grid as a whole, which it achieved in 2023. Galaxy does not purchase the Renewable Energy Credits associated with the sustainable energy it sources.
Galaxy Research dives into the complex narrative surrounding Bitcoin mining and its environmental impact in its research report, Bitcoin Mining and Energy: A Symbiotic Relationship.
People & Culture
CareersWe are a dynamic team united by our passion for empowering investors and creators to drive positive change in the global economy. Our commitment to Diversity, Equity, and Inclusion (DEI) is deeply ingrained in our corporate ethos, reflecting our core principles, culture, and business philosophy. Oversight of our DEI strategy lies with our Board of Directors and the ESG Steering Committee.
Our DEI strategy embraces a comprehensive approach that encompasses both top-down and bottom-up initiatives. We acknowledge that diversity is not merely a social responsibility but also a strategic imperative, essential for achieving our goals and delivering value to all stakeholders. Diverse perspectives not only safeguard against groupthink but also unlock the full spectrum of talent, fortifying our problem-solving capabilities, organizational resilience, and innovation potential. This holistic framework provides a clear and strategic direction for our ongoing DEI endeavors.
We continue to expand our global footprint and the diversity of our workforce and recognize the imperative of advancing our DEI principles. Our DEI journey is a collective one, involving each member of our organization as we work collaboratively towards a more inclusive industry.
Risk Management & Cybersecurity
Managing and mitigating risk in a constantly evolving environment is fundamental to Galaxy’s ability to run our business and serve our clients. We approach risk management as an essential business process integrated throughout our business lines and corporate functions.
We conduct mandatory annual Compliance, Anti-Money Laundering, Know Your Customer, Market Manipulation, Cybersecurity, and Social Media training for all employees.
INVESTOR RELATIONS
Learn more about Galaxy
For any related questions, please contact our Investor Relations team.
